Pi Network price down nearly 8% today as traders react to rising exchange supply and growing concerns around token unlocks. While the upcoming Protocol V23 upgrade continues fueling optimism around Pi’s ecosystem development, short-term sentiment has turned cautious. The latest decline has pushed PI back toward a major accumulation zone near $0.1400, an area that historically attracted buyers.
With price now retesting a key support level, traders are closely watching whether this correction is nearing exhaustion, or if more downside still lies ahead.
Rising Exchange Supply Fuels PI Selling Pressure
One of the biggest reasons behind Pi Network’s latest price weakness is the sharp increase in exchange-held supply. Recent market data shows nearly 540 million PI tokens are now sitting on centralized exchanges, marking the largest exchange-held supply since Pi Network’s open mainnet launch. Rising exchange balances are often interpreted as a bearish signal because they indicate more tokens are becoming available for sale.
The spike in exchange supply comes just ahead of Pi Network’s upcoming Protocol V23 activation, with traders appearing cautious about potential volatility surrounding the event. Meanwhile, the Pi Core Team is expected to unlock more than 200 million PI tokens this month, worth over $36 million, while approximately 1.65 billion PI tokens are projected to enter circulation over the next 12 months. The combination of growing exchange reserves and fresh supply entering the market has significantly weighed on short-term sentiment.
Protocol V23 Upgrade Keeps Long-Term Optimism Alive
Despite the near-term selloff, Pi Network still has a major catalyst approaching. Community updates suggest Pi Network’s V23 upgrade may arrive within days, marking an important milestone for the ecosystem’s next phase of development. Supporters believe the update could strengthen network functionality and improve long-term utility.
For long-term holders, the protocol upgrade remains a constructive signal. However, in the short term, bullish expectations are currently being overshadowed by supply concerns and profit-taking pressure, limiting immediate upside momentum.
PI Network Price Prediction: Has Pi Network Reached a Bounce Zone?
PI token price has now entered one of its most important near-term support areas. After dropping nearly 8% today, PI has retested the major accumulation zone near $0.1400, a region where buyers previously stepped in aggressively. The zone has historically acted as a demand base, making the current retest technically significant.
As long as PI holds above the $0.14 support region, the probability of a short-term pullback rally remains elevated. A successful defense here could trigger recovery toward the $0.17 resistance level, followed by a potential move toward $0.20–$0.23 if momentum strengthens. However, losing the $0.1400 accumulation zone could invite deeper downside pressure and delay any recovery attempt. For now, price action suggests PI may be approaching a technical rebound area, though confirmation from buyers is still needed.
What’s Next for Pi Network Price?
Pi Network’s recent weakness appears driven more by supply-side fears than a breakdown in fundamentals. Rising exchange balances, upcoming token unlocks, and uncertainty around Protocol V23 are creating short-term pressure. However, PI’s retest of a major accumulation zone near $0.1400, combined with optimism surrounding the upgrade, may help stabilize sentiment. If buyers defend support successfully, the current correction could evolve into a recovery setup rather than a deeper breakdown.
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